Massive tax rebates for the super-rich is not in the best interest of Oregonians

InsideCapitolDome

Massive tax rebates for the super-rich is not in the best interest of Oregonians

InsideCapitolDome
Today’s Oregon Economic and Revenue Forecast confirms that a record-shattering, $5.5 billion kicker is on the way. This unprecedented level of resources going out in tax rebates will do little to address the needs of Oregonians, and instead will further swell the accounts of the richest Oregonians.

Massive tax rebates for the super-rich is not in the best interest of Oregonians

Statement by OCPP Executive Director Alejandro Queral

Today’s Oregon Economic and Revenue Forecast confirms that a record-shattering, $5.5 billion kicker is on the way. This unprecedented level of resources going out in tax rebates will do little to address the needs of Oregonians, and instead will further swell the accounts of the richest Oregonians.

We estimate, based on Oregon Department of Revenue data, that the richest 100 Oregonians will get kicker rebates averaging more than $800,000. At a time when many Oregonians can’t afford to buy their own home, we’ll be giving the ultra-rich a tax rebate that’s more than the cost of an expensive home in Oregon.

There is a simple solution for making the kicker work better for all Oregonians: give everyone an equal amount. The time for a Working Families Kicker is now.

Alejandro Queral

Alejandro Queral

Alejandro Queral is Executive Director of the Oregon Center for Public Policy

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